Caddick Construction Group Reports £375m Turnover and Strategic Growth Plans

Caddick Construction Group has announced a consolidated turnover of £375 million and a Profit Before Tax (PBT) of £4.5 million for the last financial year. This performance reflects an 8% increase in revenue compared to the previous year, driven by a robust £1.4 billion forward order book and a targeted combined margin of 4% across its Construction, Civil Engineering, and Facades divisions.

The Group concluded the year with £36 million in cash and cash equivalents, marking a 10% rise from the prior year. The financial results encompass all sectors of Caddick Construction Group, which includes its Construction divisions operating in Yorkshire & North East, North West & Cumbria, and the Midlands, as well as its sub-contracting arms, CCL Facades and Caddick Civil Engineering.

Key investments have been made to bolster long-term growth, including £600,000 allocated for new plant equipment for Caddick Civil Engineering, alongside investments in new premises in Durham and a £500,000 refurbishment of the Warrington site, which features energy efficiency upgrades.

Among the notable project wins this year is the Stone Yard development, comprising 1,000 build-to-rent homes in Birmingham, undertaken in collaboration with sister company Moda and joint venture partner Aviva Capital Partners. Caddick has also established a significant presence in the North East, with major projects progressing for Richardson Barberry in County Durham and Placefirst in Sunderland.

To ensure a stable work pipeline, Caddick has effectively balanced its public and private sector projects. During the reporting year, the Group was appointed to Prosper’s £500 million New Build Development Framework and Torus’ £224 million housing and retrofit framework.

Additionally, Caddick secured four lots within the Department for Education’s (DfE) £15 billion Construction Framework 2025, targeting projects valued between £4.4 million and £12 million across the North East, Yorkshire and the Humber, East Midlands, and North West and West Midlands.

The recent financial year also saw Caddick Construction Group expand its workforce by welcoming 100 new employees and investing in 26 apprentices and trainees. The company achieved an industry-leading health and safety record, with an accident frequency rate of 0.08. Its ESG strategy, Places for Life, which is shared with the wider Caddick Group, reported a significant local spend of £189 million in 2024.

Despite facing various industry-wide challenges, including project delays and issues stemming from the Building Safety Act, inflationary pressures, and material price fluctuations, Caddick Construction Group successfully navigated these hurdles. The year also involved writing off remaining legacy losses from projects impacted by hyperinflation and sub-contractor insolvency.

Paul Dodsworth, Group Managing Director of Caddick Construction Group, expressed satisfaction with the year’s progress, stating, “We are delighted with a year of real progress across Caddick Construction Group. We share in the industry’s headwinds, and we are proud to have maintained a resilient and growing group of businesses despite these challenges. Our success is down to the hard work of our people and their wealth of expertise. We are determined to sustainably grow while retaining our reputation for high quality, and this is a vision we share as a team.”

Dodsworth further noted, “With the Group’s strong short-term visibility and significant medium to long-term potential, the Board remains confident that our three-year journey to deliver a consistent 4% margin will be achieved. Alongside our pipeline growth, we will continue to invest in our people, our business and our capability to ensure we keep pace with the huge technological and policy changes our industry is seeing, so that we can continue to deliver exceptional work for our clients.”